Mechanisms to stimulate competition in the EU fertilizer market

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Mechanisms to stimulate competition in the EU fertilizer market"

Transcription

1 Mechanisms to stimulate competition in the EU fertilizer market IFA International Fertilizer Conference 2015 Nikolay Mizulin Partner *all views are personal 30 April 2015 Mayer Brown is a global legal services provider comprising legal practices that are separate entities (the "Mayer Brown Practices"). The Mayer Brown Practices are: Mayer Brown LLP and Mayer Brown Europe-Brussels LLP, both limited liability partnerships established in Illinois USA; Mayer Brown International LLP, a limited liability partnership incorporated in England and Wales (authorized and regulated by the Solicitors Regulation Authority and registered in England and Wales number OC ); Mayer Brown, a SELAS established in France; Mayer Brown JSM, a Hong Kong partnership and its associated legal practices in Asia; and Tauil & Chequer Advogados, a Brazilian law partnership with which Mayer Brown is associated. Mayer Brown Consulting (Singapore) Pte. Ltd and its subsidiary, which are affiliated with Mayer Brown, provide customs and trade advisory and consultancy services, not legal services. "Mayer Brown" and the Mayer Brown logo are the trademarks of the Mayer Brown Practices in their respective jurisdictions.

2 EU FERTILIZER MARKET

3 Fertilizer Production Ammonia plant CO 2 Urea Natural gas NH 3 Nitric acid plant Ammonium nitrate (AN) UAN HNO 3 Ammonium variants Air Nitrophosphate plant Calcium ammonium nitrate (CAN) Salts of K, Mg, S Rock Phosphoric acid plant NPK fertlisers H 2 SO 4 H 2 PO 4 Sulphuric acid plant superphosphates Source: Yara fertilizer handbook (2012)

4 EU producers at the high-end of the cost curve Urea cost curve for 2015 Source: CRU Urea market outlook June 2013

5 Price of natural gas in the EU Natural gas prices in EU higher and expected to rise EU prices also dependent on oilindexed Russian gas Production cost of ammonia: Yara Brunsbuttel (EU) =$ 650 per ton Gas Price Forecast, Nominal $/MMBtu Ain Sokhna (Egypt) = $ 100 per ton USA, Henry Hub Russia Germany Saudi Arabia Central Europe Trinidad Source: Ammonia Market Outlook 2013

6 EU is dependent on imports of fertilizers Ammonia, Ammonium variants, and Urea are consumed in large quantities within the EU NPK, UAN, and superphosphates in lower quantities. Production does not cover consumption within the EU On average only 88 per cent of EU fertiliser consumption is supplied by EU production EU production and consumption 2011 Thousand tonnes 20,000 16,000 12,000 8,000 4,000 0 Production Consumption Note: NPK includes NPK, NP compounds and PK compounds Source: CRU Fertilizer Market Outlooks 2013, IFA, FAOstat

7 Insufficient EU capacity Imports are needed Excess demand in the EU is covered by imports Import share of Nitrogen fertilisers in EU-27 Imports of fertilisers containing nitrogen is stable around 20 per cent of consumption Mid-term projections predict EU consumption to be basically constant Note: Consumption includes both agriculture and technical use of nitrogen containing fertilisers Source: Fertilisers Europe 2012 Overview

8 Size of tariffs on imported fertilizers in the EU Product group MFN tariff AMMONIA 5,5% AMMONIUM VARIANTS 6,5% NPK 6,5% UAN 6,5% UREA 6,5% SUPERPHOSPHATES 6,5%

9 Production within EU is concentrated Production is Capital intensive Subject to large economies of scale This naturally leads to high producer concentration 159 fertiliser manufacturing sites in EU-27 owned by few firms Seven largest producers account for 93% of ammonium nitrate capacity in Western Europe Ammonia production in Germany and Poland are highly vertically integrated with Urea production Share of EU capacity held by 4 largest EU producers 2006 Share 70% 60% 50% 40% 30% 20% 10% 0% Source: EU Commission (2007), Large Volume Inorganic Chemicals - Ammonia, Acids and Fertilisers

10 Ammonium Nitrate Prices Inside and Outside the EU Source: the Market by ICIS

11 MECHANISMS TO STIMULATE COMPETITION IN THE EU FERTILIZER MARKET

12 Customs Duty Suspension for Imported Fertilizers EU Customs duties can be suspended or eliminated in the public interest. Customs duty suspensions have been granted in the past on grounds of economic interests of EU users. Customs duty suspension for fertilizers is in the EU s public interest because it would contribute to lowering the cost of agricultural activities in the EU, improve their competitiveness, stimulate the growth of these activities and result in the creation of significant additional employment

13 How will competition be affected? The high international concentration and European market concentration suggest that a tariff removal will have positive effects on competition in the European market Tariffs are higher from countries with no investments in production capacity by European firms Tariffs also affect imports from the USA, where decreasing prices for natural gas will generate competitive cash costs for EU deliveries This suggest a that a tariff suspension will increase competition and create a downward price pressure

14 A fertiliser tariff suspension is beneficial for EU agriculture A tariff suspension will increase competitiveness in downstream industries EU production costs for fertilisers are high High energy and natural gas prices Fertiliser tariffs reduce the competitiveness of EU agriculture Affects the overall European fertiliser market since main sources are subject to high MFN tariffs Adds to the price of existing imports Keeps relatively competitive producers from supplying the EU market Impact on farmers For the average EU wheat farmer a tariff suspension will Reduce cost by 5 EUR per hectare Reduce total operating costs with 1% Reduce total annual operating costs with 181 EUR (based on an average of 36.6 ha per farmer) French wheat farmer Reduce cost by 9 EUR per hectare Reduce total operating costs with 1% Reduce total annual operating costs with 439 EUR (based on an average of 50.5 ha per farmer) Source: Copenhagen Economics 2014

15 EU economic impact of a tariff suspension (Million EUR) Product Surplus for EU fertiliser producers Surplus for EU fertiliser consumers Tariff revenues Total welfare Ammonia Urea UAN Superphosphat es NPK Ammonium variants Total Source: Copenhagen Economics 2014

16 Impact on employment in the agricultural sector A tariff suspension will reduce the costs in downstream industries This increases the international competitiveness of the EU agricultural sector Cost savings in total operating cost approximately 1% due to lower fertiliser prices Lower cost will lead to a larger surplus for consumers Increased agricultural output at the lower prices

17 Estimated employment increase Region Surplus for EU fertiliser consumers (m EUR) Number of jobs created Of which cereal FRANCE ITALY UNITED KINGDOM GERMANY SPAIN Rest of EU EU Source: Copenhagen Economics 2014

Pension Scheme Funding in Germany. Private Investment Funds Practice Discussion Papers

Pension Scheme Funding in Germany. Private Investment Funds Practice Discussion Papers Pension Scheme Funding has become a must for corporates in the German marketplace. The need to optimize investment of pension assets means there are far-reaching opportunities for financial institutions.

More information

Yara International ASA Third Quarter results 2012

Yara International ASA Third Quarter results 2012 Yara International ASA Third Quarter results 212 19 October 212 1 Summary third quarter Strong results and cash flow Yara-produced NPK deliveries up 1% Strong production increase Cautious start to European

More information

Perspectives on Cybersecurity and Its Legal Implications

Perspectives on Cybersecurity and Its Legal Implications Survey Results 2015 Perspectives on Cybersecurity and Its Legal Implications a 2015 survey of corporate executives The National Institute of Standards and Technology (NIST), a non-regulatory agency of

More information

Leveraging on Free Trade Agreements iadvisory Seminar Series: Doing Business in the Philippines November 12, 2014

Leveraging on Free Trade Agreements iadvisory Seminar Series: Doing Business in the Philippines November 12, 2014 Leveraging on Free Trade Agreements iadvisory Seminar Series: Doing Business in the Philippines November 12, 2014 presented by: WONG CHIAN VOEN Mayer Brown Consulting Mayer Brown is a global legal services

More information

Spring 2015 reforms: the new DC flexibilities

Spring 2015 reforms: the new DC flexibilities Spring 2015 reforms: the new DC flexibilities THE REFORMS AT A GLANCE y Until April 2015, members usually faced serious tax penalties if they did not spend at least 75% of their DC pots on an annuity meeting

More information

Yara International ASA Second quarter results 2014

Yara International ASA Second quarter results 2014 Yara International ASA Second quarter results 214 18 July 214 1 Summary second quarter Strong result Lower nitrate deliveries amid early end to season in Europe Continued strong NPK deliveries and value-added

More information

Protecting Americans from Tax Hikes Act of 2015: Effects on Taxation of Investment in US Real Estate

Protecting Americans from Tax Hikes Act of 2015: Effects on Taxation of Investment in US Real Estate Legal Update December 21, 2015 Protecting Americans from Tax Hikes Act of 2015: Effects on Taxation of Investment in On December 18, 2015, Congress passed and President Obama signed into law the Protecting

More information

x Amount of ammonia used for producing nitric acid (0.213 NH 3 /t AN + 6% efficiency loss)

x Amount of ammonia used for producing nitric acid (0.213 NH 3 /t AN + 6% efficiency loss) NOTE Date 2014-01-10 To Open information Issued by Yara HESQ/ Jan-Petter Fossum Calculation of Carbon Footprint of Fertilizer Production 1 Introduction This note documents the calculation methodology for

More information

Out-of-the-Money: The IRS Designates Basket Options as Listed Transactions and Transactions of Interest

Out-of-the-Money: The IRS Designates Basket Options as Listed Transactions and Transactions of Interest Legal Update July 24, 2015 Out-of-the-Money: The IRS Designates Basket Options as Listed Transactions and It s been a long hard road for barrier options. In 2010, the Internal Revenue Service (the IRS

More information

Major Changes Introduced by the New Companies Ordinance Companies Limited by Guarantee 1

Major Changes Introduced by the New Companies Ordinance Companies Limited by Guarantee 1 Major s Introduced by the New Companies Ordinance Companies Limited by Guarantee 1 1. Abolition of Memorandum of Association Memorandum of Association is abolished for all local companies. Current provisions

More information

Information Disclosure on the Securities Market

Information Disclosure on the Securities Market 3 Legal Update Banking & Finance Construction & Engineering Corporate & Securities Vietnam 06 July 2012 Information Disclosure on the Securities Market Summary On 5 April 2012, the Ministry of Finance

More information

Major Changes Introduced by the New Companies Ordinance Private and Public Companies 1

Major Changes Introduced by the New Companies Ordinance Private and Public Companies 1 Major s Introduced by the New Companies Ordinance Private and Public Companies 1 1. Abolition of Memorandum of Association Memorandum of Association is abolished for all local companies. Current provisions

More information

FERTILIZER OUTLOOK. Knowledge would often confuse them. Barrie Bain Director of Fertilizer Intelligence FERTECON Limited

FERTILIZER OUTLOOK. Knowledge would often confuse them. Barrie Bain Director of Fertilizer Intelligence FERTECON Limited FERTILIZER OUTLOOK Knowledge would often confuse them by Barrie Bain Director of Fertilizer Intelligence FERTECON Limited Nomura Global Chemical Industry Leaders Conference, Venice, 21 March 2013 FERTECON/

More information

Negotiating ERP Implementation Agreements for Success

Negotiating ERP Implementation Agreements for Success Negotiating ERP Implementation Agreements for Success Paul Chandler 312 701 8499 pchandler@mayerbrown.com Paul Roy 312 701 7370 proy@mayerbrown.com Business & Technology Sourcing Practice "An excellent

More information

Negotiation Skills. RIBA Future Leaders Course. Chris Fellowes Sean Hummerstone Peter Parten Partner Associate Trainee. May 2012

Negotiation Skills. RIBA Future Leaders Course. Chris Fellowes Sean Hummerstone Peter Parten Partner Associate Trainee. May 2012 Negotiation Skills RIBA Future Leaders Course May 2012 Chris Fellowes Sean Hummerstone Peter Parten Partner Associate Trainee Mayer Brown is a global legal services organisation comprising legal practices

More information

Authorisation and Restriction: Interplay and other Strategic Considerations

Authorisation and Restriction: Interplay and other Strategic Considerations Authorisation and Restriction: Interplay and other Strategic Considerations Informa Conference on REACH Montfort, Jean-Philippe Partner +32 (0)2 551 5970 jpmontfort@mayerbrown.com Brussels, 5 March 2012

More information

IRS Provides Guidance on Beginning of Construction for Renewable Energy Projects

IRS Provides Guidance on Beginning of Construction for Renewable Energy Projects Legal Update April 16, 2013 IRS Provides Guidance on Beginning of Construction for Renewable Energy Projects On April 15, 2013, the US Internal Revenue Service (the IRS) released Notice 2013-29 1 (the

More information

IRS Issues Revised Guidance on Form W-2 Reporting Requirements for Costs of Employer Group Health Coverage

IRS Issues Revised Guidance on Form W-2 Reporting Requirements for Costs of Employer Group Health Coverage Legal Update January 23, 2012 IRS Issues Revised Guidance on Form W-2 Reporting Requirements for The Patient Protection and Affordable Care Act of 2010 (PPACA) requires employers to report the aggregate

More information

Addressing UBTI Concerns in Capital Call Subscription Credit Facilities

Addressing UBTI Concerns in Capital Call Subscription Credit Facilities Legal Update November 2012 Addressing UBTI Concerns in Capital Call Subscription Credit Facilities A subscription credit facility (a Facility), also frequently referred to as a capital call facility, is

More information

Short-Term Fertilizer Outlook 2014 2015

Short-Term Fertilizer Outlook 2014 2015 A/14/140b November 2014 IFA Strategic Forum Marrakech (Morocco), 19-20 November 2014 Short-Term Fertilizer Outlook 2014 2015 Patrick Heffer and Michel Prud homme International Fertilizer Industry Association

More information

Equity Incentive Plans Extending US- and UK-based Plans Across the Pond

Equity Incentive Plans Extending US- and UK-based Plans Across the Pond Equity Incentive Plans Extending US- and UK-based Plans Across the Pond Andrew Stanger Partner +44 20 3130 3934 astanger@mayerbrown.com James C. Williams Partner +1 312 701 8139 jcwilliams@mayerbrown.com

More information

Governmental Ethics For Lawyers

Governmental Ethics For Lawyers Governmental Ethics For Lawyers Joe Seliga Partner +1 312 701 8818 jseliga@mayerbrown.com June 2011 Mayer Brown is a global legal services organization comprising legal practices that are separate entities

More information

Developments (2011-2013) in SEC staff views of E&P companies' oil and gas reserves disclosures

Developments (2011-2013) in SEC staff views of E&P companies' oil and gas reserves disclosures Developments (2011-2013) in SEC staff views of E&P companies' oil and gas reserves disclosures 2013 Ryder Scott Reserves Conference Houston, Texas Marc H. Folladori Partner 713 238 2696 mfolladori@mayerbrown.com

More information

WHAT IS IN FERTILIZER OTHER THAN NUTRIENTS?

WHAT IS IN FERTILIZER OTHER THAN NUTRIENTS? WHAT IS IN FERTILIZER OTHER THAN NUTRIENTS? Raymond C. Ward Ward Laboratories Inc. Kearney, NE Commercial fertilizer is a source of plant nutrients that can be applied to soil to nourish crops when the

More information

Withholding Income Tax on Importation of Services

Withholding Income Tax on Importation of Services Withholding Income Tax on Importation of Services Roberta Caneca Partner 55 11 2504-4210 rcaneca@mayerbrown.com Ivan Tauil Partner 55 21 2127 4210 itauil@mayerbrown.com May, 2013 Mayer Brown is a global

More information

83 rd IFA Annual Conference Istanbul (Turkey), May 2015

83 rd IFA Annual Conference Istanbul (Turkey), May 2015 A/15/67b June 2015 Final Version 83 rd IFA Annual Conference Istanbul (Turkey), 25-27 May 2015 Fertilizer Outlook 2015-2019 Patrick Heffer and Michel Prud homme International Fertilizer Industry Association

More information

FERTECON S CONSULTANCY SERVICE

FERTECON S CONSULTANCY SERVICE FERTECON S CONSULTANCY SERVICE Fertilizer industry market and pricing expert In-depth commercial consultancy services covering all fertilizers ABOUT FERTECON About FERTECON FERTECON comprises an experienced

More information

Leveraging on Free Trade Agreements iadvisory Seminar Series: Doing Business in Indonesia April 29, 2015

Leveraging on Free Trade Agreements iadvisory Seminar Series: Doing Business in Indonesia April 29, 2015 Leveraging on Free Trade Agreements iadvisory Seminar Series: Doing Business in Indonesia April 29, 2015 presented by: WONG CHIAN VOEN Mayer Brown Consulting Mayer Brown is a global legal services provider

More information

TERMINATION PAYMENTS AND INTERNATIONALLY MOBILE EMPLOYEES

TERMINATION PAYMENTS AND INTERNATIONALLY MOBILE EMPLOYEES Article A similar version of this article first appeared in tax Journal, 18 November 2013 TERMINATION PAYMENTS AND INTERNATIONALLY By James Hill Speed Read: The taxation of termination payments paid to

More information

Yara International ASA Fourth quarter results 2011. 7 February 2012

Yara International ASA Fourth quarter results 2011. 7 February 2012 Yara International ASA Fourth quarter results 211 7 February 212 1 Summary fourth quarter Strong quarter and best full-year results so far Good farm profitability drove improved margins, more than offsetting

More information

Yara International ASA First quarter results 2015. 24 April 2015

Yara International ASA First quarter results 2015. 24 April 2015 Yara International ASA First quarter results 2015 24 April 2015 1 Summary first quarter Strong result driven by higher deliveries and margins Margins benefit from lower gas prices and stronger US dollar

More information

Vietnam s Insurance Market: An Overview January 2014

Vietnam s Insurance Market: An Overview January 2014 Legal Update Insurance Vietnam 29 January 2014 Vietnam s Insurance Market: An Overview January 2014 1. Introduction Vietnam started liberalising its insurance market by allowing foreign insurers to participate

More information

These calculations are on a hectare basis or for a given size of an experimental plot.

These calculations are on a hectare basis or for a given size of an experimental plot. Fertilizer Calibration Objective: The objective of this lesson is to help you to learn to convert a fertilizer recommendation to the required amounts per unit area. These calculations are on a hectare

More information

Consumption Patterns and Competition in the World Fertilizer Markets

Consumption Patterns and Competition in the World Fertilizer Markets Consumption Patterns and Competition in the World Fertilizer Markets Kyösti Arovuori and Hanna Karikallio Pellervo Economic Research Institute, Eerikinkatu 28 A FIN-00180 Helsinki, Finland. tel. +358-9-

More information

Yara International ASA First quarter results 2009. 28 April 2009

Yara International ASA First quarter results 2009. 28 April 2009 Yara International ASA First quarter results 29 28 April 29 1 Summary first quarter 29 Strong cash flow Significant on-going operating capital release Reduced margins despite lower energy costs Sales volumes

More information

Intellectual Property & Data Protection 2015: Legal developments you need to know about

Intellectual Property & Data Protection 2015: Legal developments you need to know about Intellectual Property & Data Protection 2015: Legal developments you need to know about Welcome This is a short guide to some of the key legal developments for intellectual property and data protection

More information

Crossing Borders New Guidance on the Transfer of Personal Data outside Hong Kong

Crossing Borders New Guidance on the Transfer of Personal Data outside Hong Kong Legal Update Privacy & Security Hong Kong 20 January 2015 Crossing Borders New Guidance on the Transfer of Personal Data outside Hong Kong Section 33 of the Hong Kong Personal Data (Privacy) Ordinance

More information

Financial Institutions and Cloud Computing What s on the Horizon

Financial Institutions and Cloud Computing What s on the Horizon Financial Institutions and Cloud Computing What s on the Horizon Rebecca Eisner Partner - Chicago +1 312 701 8577 reisner@mayerbrown.com Mark Prinsley Partner - London +44 203 130 3900 mprinsley@mayerbrown.com

More information

Structured Finance PRACTICE HIGHLIGHTS

Structured Finance PRACTICE HIGHLIGHTS Structured Finance PRACTICE HIGHLIGHTS The Practice Mayer Brown is the only firm that is able to provide true depth and quality of service to clients in structured finance transactions across the Americas,

More information

Contracting for Cloud Computing

Contracting for Cloud Computing Contracting for Cloud Computing Geofrey L Master Mayer Brown JSM Partner +852 2843 4320 geofrey.master@mayerbrownjsm.com April 5th 2011 Mayer Brown is a global legal services organization comprising legal

More information

Giving Third Parties Contractual Rights The New Rules

Giving Third Parties Contractual Rights The New Rules Legal Update Hong Kong 3 June 2015 Giving Third Parties Contractual Rights The New Rules Hong Kong s Contracts (Rights of Third Parties) Ordinance No.17 of 2014 (the Ordinance ) was passed in December

More information

Good faith is there a new implied duty in English contract law?

Good faith is there a new implied duty in English contract law? Legal Update July 2013 Good faith is there a new implied duty in English contract law? Background English law does not currently recognise a universal implied duty on contracting parties to perform their

More information

ICC 102-2. 12 March 2009 Original: French. Study. International Coffee Council 102 nd Session 18 20 March 2009 London, England

ICC 102-2. 12 March 2009 Original: French. Study. International Coffee Council 102 nd Session 18 20 March 2009 London, England ICC 102-2 12 March 2009 Original: French Study E International Coffee Council 102 nd Session 18 20 March 2009 London, England Study on fertilizer prices Background In the context of its programme of activities,

More information

A Quick Start Guide to EMIR: What you need to do and when

A Quick Start Guide to EMIR: What you need to do and when Legal Update January 2013 A Quick Start Guide to EMIR: What you need to do and when On 19 December 2012 the Commission adopted the majority of the subordinate legislation necessary to implement Regulation

More information

Corporate Real Estate. Introduction to Mayer Brown s UK Corporate Real Estate Capabilities

Corporate Real Estate. Introduction to Mayer Brown s UK Corporate Real Estate Capabilities 2015 Corporate Real Estate Introduction to Mayer Brown s UK Corporate Real Estate Capabilities Contents Page About Mayer Brown 1 The UK Real Estate Group Overview 3 Corporate Real Estate 5 Examples of

More information

Insolvency Litigation and Related

Insolvency Litigation and Related Insolvency Litigation and Related Strategic t Concerns US, European and Asian Considerations David Allen Partner London Jean Marie Atamian Partner New York Jan Kraayvanger Partner Frankfurt +44 20 3130

More information

TRENDS IN BULK BLENDING WORLD WIDE

TRENDS IN BULK BLENDING WORLD WIDE TRENDS IN BULK BLENDING WORLD WIDE CHARLES FORMISANI Project Engineer A. J. Sackett & Sons Company Baltimore, Maryland USA 410-276-4466 www.ajsackett.com Assuming that the goal of any fertilization program

More information

82 nd IFA Annual Conference Sydney (Australia), 26-28 May 2014

82 nd IFA Annual Conference Sydney (Australia), 26-28 May 2014 A/14/65b June 2014 Final Version 82 nd IFA Annual Conference Sydney (Australia), 26-28 May 2014 Fertilizer Outlook 2014-2018 Patrick Heffer and Michel Prud homme International Fertilizer Industry Association

More information

The impact of biofuels on the world fertilizer market

The impact of biofuels on the world fertilizer market The impact of biofuels on the world fertilizer market By Oliver Hatfield, Director Integer Research Ltd TFI Conference, November 2007 Presentation overview Definitions and scope Factors which translate

More information

New York State Department of Financial Services Proposes a BitLicense Regulatory Framework for Virtual Currency Businesses

New York State Department of Financial Services Proposes a BitLicense Regulatory Framework for Virtual Currency Businesses Legal Update August 6, 2014 New York State Department of Financial Services Proposes a BitLicense Regulatory Framework for Virtual Currency Businesses The New York State Department of Financial Services

More information

The Foreign Account Tax Compliance Act (FATCA)

The Foreign Account Tax Compliance Act (FATCA) The Foreign Account Tax Compliance Act (FATCA) Applying FATCA to Funds and other Collective Investment Vehicles Jonathan Sambur Partner + 1 202 263-3256 jsambur@mayerbrown.com February 2013 Mayer Brown

More information

N-P-K FERTILIZERS. by M.L. Vitosh Extension Specialist, Crop and Soil Sciences

N-P-K FERTILIZERS. by M.L. Vitosh Extension Specialist, Crop and Soil Sciences Michigan State University Extension! Extension Bulletin E-896! Reprint July 1996 N-P-K FERTILIZERS by M.L. Vitosh Extension Specialist, Crop and Soil Sciences T here are many grades and analyses of nitrogen

More information

Leveraging Supply Chain Finance to Optimize Value

Leveraging Supply Chain Finance to Optimize Value Leveraging Supply Chain Finance to Optimize Value Brad Peterson +1 312 701 8568 bpeterson@mayerbrown.com Massimo Capretta +1 312 701 8152 mcapretta@mayerbrown.com David A. Ciancuillo +1 312 701 7258 dciancuillo@mayerbrown.com

More information

You d be mad not to bet on this horse.

You d be mad not to bet on this horse. You d be mad not to bet on this horse. With a proven 300% return on investment*, FertiCoat is the clear winner for crops. *For wheat and maize The ultimate fertiliser coating FertiCoat applied to fertilisers:

More information

China s New Trademark Law Introduces Key Changes

China s New Trademark Law Introduces Key Changes Legal Update Intellectual Property Mainland China 13 September 2013 China s New Trademark Law Introduces Key Changes The PRC government passed a decision to amend the PRC Trademark Law on 30 August 2013.

More information

Rare Bird Sightings: Recent Developments Address Distressed Obligation Issues Faced by REMICs

Rare Bird Sightings: Recent Developments Address Distressed Obligation Issues Faced by REMICs Article Rare Bird Sightings: Recent Developments Address Distressed Obligation Issues Faced by REMICs By Russell Nance, Erin Gladney and Mark Leeds For more than 30 years, tax practitioners working with

More information

State Tax Credits & Clean Energy Opportunities

State Tax Credits & Clean Energy Opportunities State Tax Credits & Clean Energy Opportunities Presented to Tax Executives International New Orleans Chapter David K. Burton Partner 212-506-2525 dburton@mayerbrown.com May 17, 2016 Mayer Brown is a global

More information

French Supreme Court decides that a jurisdiction clause providing for one-way exclusivity is invalid under Article 23 of the Brussels I Regulation

French Supreme Court decides that a jurisdiction clause providing for one-way exclusivity is invalid under Article 23 of the Brussels I Regulation Legal Update December 2012 Cross-border issues and disputes: Jurisdiction, forum selection and parallel proceedings French Supreme Court decides that a jurisdiction clause providing for one-way exclusivity

More information

Yara Fertilizer Industry Handbook. February 2012

Yara Fertilizer Industry Handbook. February 2012 Yara Fertilizer Industry Handbook February 2012 Yara Fertilizer Industry Handbook This handbook describes the fertilizer industry and in particular the nitrogen part which is the most relevant for Yara

More information

Yara International ASA Flexible business model in an attractive market Merrill Lynch European Chemicals Conference London, 19 November 2008

Yara International ASA Flexible business model in an attractive market Merrill Lynch European Chemicals Conference London, 19 November 2008 Yara International ASA Flexible business model in an attractive market Merrill Lynch European Chemicals Conference London, 19 November 28 CFO Egil Hogna A chemical company with fertilizer application as

More information

OCI N.V. Trading Update 1

OCI N.V. Trading Update 1 Trading Update Third Quarter 2014 Amsterdam, the Netherlands / 14 November, 2014 9:00 AM OCI N.V. Trading Update 1 Fertilizer & Chemicals Group Business Highlights Total product volume sold that was produced

More information

Lehman Bankruptcy Court Addresses Scope of the Bankruptcy Code s Safe Harbor for Liquidation, Termination and Acceleration of Swap Agreements

Lehman Bankruptcy Court Addresses Scope of the Bankruptcy Code s Safe Harbor for Liquidation, Termination and Acceleration of Swap Agreements Legal Update January 9, 2014 Lehman Bankruptcy Court Addresses Scope of the Bankruptcy Code s Safe Harbor for Liquidation, Termination and Acceleration of Swap Agreements In Michigan State Housing Development

More information

Lawyers and Social Media: The Legal Ethics of Tweeting, Facebooking and Blogging

Lawyers and Social Media: The Legal Ethics of Tweeting, Facebooking and Blogging Lawyers and Social Media: The Legal Ethics of Tweeting, Facebooking and Blogging Anthony Diana, Partner 212 506 2542 adiana@mayerbrown.com Michael Lackey, Partner 202 263 3224 mlackey@mayerbrown.com Mayer

More information

Mineral fertilizer, climate effects and options for improvement

Mineral fertilizer, climate effects and options for improvement Mineral fertilizer, climate effects and options for improvement LMDs konferanse om klima og landbruk, Oslo, 03 June 2009 Frank Brentrup, Yara Int., Research Centre Hanninghof Crops need mineral nutrients

More information

NATIONAL UNIVERSITY OF LIFE AND ENVIRONMENTAL SCIENCES OF UKRAINE

NATIONAL UNIVERSITY OF LIFE AND ENVIRONMENTAL SCIENCES OF UKRAINE NATIONAL UNIVERSITY OF LIFE AND ENVIRONMENTAL SCIENCES OF UKRAINE Ukrainian agricultural products competitiveness on European market in time of financial challenges Sergey Grygoryev Contents: Part 1. Trade

More information

Long-Expected Omnibus HIPAA Rule Implements Significant Privacy and Security Regulations for Entities and Business Associates

Long-Expected Omnibus HIPAA Rule Implements Significant Privacy and Security Regulations for Entities and Business Associates Legal Update February 11, 2013 Long-Expected Omnibus HIPAA Rule Implements Significant Privacy and Security Regulations for Entities and Business Associates On January 17, 2013, the Department of Health

More information

Global Sulphur Market Outlook

Global Sulphur Market Outlook Global Sulphur Market Outlook Dr. Peter Harrisson Consultant, Sulphur and Sulphuric acid t: +44 207 903 2249 e: peter.harrisson@crugroup.com Discussion overview Global Market Overview Forecast to 2017

More information

Ethics & Social Media With A Hint Of Privacy Law

Ethics & Social Media With A Hint Of Privacy Law Ethics & Social Media With A Hint Of Privacy Law Ethics Program Debra Bogo-Ernst, Mayer Brown Michael Lackey, Mayer Brown Speakers dernst@mayerbrown.com T +1 312 701 7403 F +1 312 706 8474 mlackey@mayerbrown.com

More information

Capital Commitment Subscription Facilities and the Proposed Liquidity Coverage Ratio

Capital Commitment Subscription Facilities and the Proposed Liquidity Coverage Ratio Legal Update December 20, 2013 Capital Commitment Subscription Facilities and the Proposed Liquidity Coverage Ratio On November 29, 2013, the Board of Governors of the Federal Reserve System (FRB), the

More information

Natural Gas and the U.S. Fertilizer Industry

Natural Gas and the U.S. Fertilizer Industry Natural Gas and the U.S. Fertilizer Industry Harry Vroomen Vice President, Economic Services The Fertilizer Institute July 15, 2010 www.tfi.org Outline of Presentation Brief Intro on Fertilizer Focus on

More information

Country trade view Italy. Trends in global trade

Country trade view Italy. Trends in global trade Country trade view Italy Trends in global trade Summary Italy is a significant player in world trade. In 2014, it was the eleventh-largest importer and the ninth-largest exporter in the world. Italy comprises

More information

Insurance in Asia We I W d e I e d n e t n if t y. W y e C. W o e C m o m m it m. W it e A. W c e A h c i h ev e e v. e

Insurance in Asia We I W d e I e d n e t n if t y. W y e C. W o e C m o m m it m. W it e A. W c e A h c i h ev e e v. e Insurance in Asia We Identify. We Commit. We Achieve. Insurance Law Firm of the Year Asian Legal Business Awards 2010, 2011, 2013 and 2014 Hong Kong Law Firm of the Year Asian Legal Business Awards 2002-2005,

More information

The fertilizer expert. Grupa Azoty. Producer of dry and liquid fertilizers

The fertilizer expert. Grupa Azoty. Producer of dry and liquid fertilizers Grupa Azoty Grupa Azoty is a grand project focused firmly on the future. Thanks to the recently completed great consolidation we are prepared to face new challenges in today s world with deep conviction

More information

Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017

Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017 Brochure More information from http://www.researchandmarkets.com/reports/2547547/ Sulfuric Acid 2013 World Market Outlook and Forecast up to 2017 Description: Sulfuric Acid 2013 World Market Outlook and

More information

Effects of import duty elimination on competition in the European Union (EU) Fertilizer Market

Effects of import duty elimination on competition in the European Union (EU) Fertilizer Market Report Effects of import duty elimination on competition in the European Union (EU) Fertilizer Market Prepared for the Irish Farmers' Association International Food Policy Research Institute 29 th January

More information

Current world fertilizer trends and outlook to 2015

Current world fertilizer trends and outlook to 2015 Current world fertilizer trends and outlook to 2015 FOOD AND AGRICULTURE ORGANIZATION OF THE UNITED NATIONS Rome, 2011 Contents Preface 5 Executive summary 6 The world fertilizer outlook 7 Background 7

More information

A Framework for a Paperless Office Strategy

A Framework for a Paperless Office Strategy A Framework for a Paperless Office Strategy ARMA Chicago Chapter Presentation Peter J. Garino Global Business Solutions Manager pgarino@mayerbrown.com September 8, 2015 Mayer Brown is a global legal services

More information

United Kingdom Internet Security Threat Profile

United Kingdom Internet Security Threat Profile Internet Security Threat Profile Worldwide Ranking.%.%.%.%.%.%.%.%.%.%.%.% Overall Average Spam Zombies Malicious Code Phishing Hosts Bots Network Copyright Symantec Corporation. All rights reserved. Symantec,

More information

Revealing the costs of air pollution from industrial facilities in Europe a summary for policymakers

Revealing the costs of air pollution from industrial facilities in Europe a summary for policymakers Revealing the costs of air pollution from industrial facilities in Europe a summary for policymakers A new European Environment Agency (EEA report, Revealing the costs of air pollution from industrial

More information

Costs of air pollution from European industrial facilities 2008 2012 an updated assessment

Costs of air pollution from European industrial facilities 2008 2012 an updated assessment Costs of air pollution from European industrial facilities 2008 2012 an updated assessment Summary In 2012, air pollution from European industrial facilities cost at least EUR 59 billion (and up to EUR

More information

Hot State Tax Audit Topics

Hot State Tax Audit Topics Hot State Tax Audit Topics TEI Houston Tax School - State and Local Tax Workshop Jeffrey S. Reed [(212) 506-2104 jreed@mayerbrown.com February 3, 2014 Mayer Brown is a global legal services provider comprising

More information

NSA Data Collection and its Impact on Cloud and Outsourcing and Recent Privacy and Security Developments on Capitol Hill

NSA Data Collection and its Impact on Cloud and Outsourcing and Recent Privacy and Security Developments on Capitol Hill NSA Data Collection and its Impact on Cloud and Outsourcing and Recent Privacy and Security Developments on Capitol Hill Marcus Christian Partner +1 202 263 3731 mchristian@mayerbrown.com Howard W. Waltzman

More information

GUIDANCE FOR COMPATIBILITY OF FERTILIZER BLENDING MATERIALS

GUIDANCE FOR COMPATIBILITY OF FERTILIZER BLENDING MATERIALS GUIDANCE FOR COMPATIBILITY OF FERTILIZER BLENDING MATERIALS Issue 2014 2 GUIDANCE FOR COMPATIBILITY OF FERTILIZER BLENDING MATERIALS Contents 1. INTRODUCTION 3 2. SCOPE 3 3. BLENDING MATERIALS & GENERAL

More information

Innovative Technology Solutions for Sustainability ABENGOA. Industrial Production Market Outlook. Analyst & Investor Day. Javier Salgado Javier Molina

Innovative Technology Solutions for Sustainability ABENGOA. Industrial Production Market Outlook. Analyst & Investor Day. Javier Salgado Javier Molina Innovative Technology Solutions for Sustainability ABENGOA Industrial Production Market Outlook Javier Salgado Javier Molina Analyst & Investor Day May 2012 Agenda 1 Bioenergy Market Outlook & Growth Strategy

More information

Figure 1: Global Aggregates: Industrial Production (% MoM Ann., 3M moving average)

Figure 1: Global Aggregates: Industrial Production (% MoM Ann., 3M moving average) Figure 1: Global Aggregates: Industrial Production (% MoM Ann., 3M moving average) World Advanced Economies Emerging Market Economies Notes: Nowcasts are in red. World is the PPP-weighted average of US,

More information

Brazil Tax Seminar. Eduardo Telles Partner

Brazil Tax Seminar. Eduardo Telles Partner Brazil Tax Seminar Brazilian Tax Development Impacting Charters Agreements Ivan Tauil Partner 55 21 2127 4210 itauil@mayerbrown.com Eduardo Telles Partner 55 21 2127 4210 etelles@mayerbrown.com October

More information

U.S. Trade Overview, 2013

U.S. Trade Overview, 2013 U.S. Trade Overview, 213 Stephanie Han & Natalie Soroka Trade and Economic Analysis Industry and Analysis Department of Commerce International Trade Administration October 214 Trade: A Vital Part of the

More information

Tailoring solutions for a region of diversity Global Press Conference 2013

Tailoring solutions for a region of diversity Global Press Conference 2013 Tailoring solutions for a region of diversity Global Press Conference 2013 Vincent Gros Senior Vice President, BASF Crop Protection Europe, CIS, Central Asia, Africa and Middle East October 2 nd, 2013

More information

Presentation of Results for Q3 2012 Azoty Tarnów Group

Presentation of Results for Q3 2012 Azoty Tarnów Group Presentation of Results for Q3 2012 Azoty Tarnów Group Azoty Tarnów Group Q3 2012 in numbers Grupa Kapitałowa w roku Revenue 5 511.8 million PLN Net profit 292.8 million PLN Equity 3 454.8 million PLN

More information

Asian Nitrogen + Syngas 2013 - delegate list up to 10 October

Asian Nitrogen + Syngas 2013 - delegate list up to 10 October Asian Nitrogen + Syngas 2013 - delegate list up to 10 October job title company country Vice Chairman for Mechanical Maintenance Affairs Abu Qir Fertilizers Company Egypt Production Sectors Head AFC 1

More information

www.pwc.co.uk/economics Global wage projections to 2030 September 2013

www.pwc.co.uk/economics Global wage projections to 2030 September 2013 www.pwc.co.uk/economics Global wage projections to 2030 Summary: Wage gap between emerging and advanced economies will shrink significantly by 2030 By 2030, our projections in this report suggest that

More information

SABIC FERTILIZERS HELPING TO FEED PEOPLE

SABIC FERTILIZERS HELPING TO FEED PEOPLE FERTILIZERS SABIC FERTILIZERS HELPING TO FEED PEOPLE Our planet now supports more than 6.7 billion people. To nourish them, more food is being produced than would ever have been thought possible 50 years

More information

Draft Commercial Arbitration Law for Adoption by the National Assembly in its Imminent Session

Draft Commercial Arbitration Law for Adoption by the National Assembly in its Imminent Session Legal Update Litigation & Dispute Resolution Vietnam 24 May 2010 Draft Commercial Arbitration Law for Adoption by the National Assembly in its Imminent Session This legal update summarises the twenty-second

More information

The GCC Chemical Industry 2013. Facts and Figures

The GCC Chemical Industry 2013. Facts and Figures The GCC Chemical Industry 2013 Facts and Figures 2 CONTENTS 1. About the chemical industry 01 2. GCC chemical industry in 2013: key numbers 06 3. Economic contribution of the GCC chemical industry 08 4.

More information

Mining joint ventures By Angus Macdonald

Mining joint ventures By Angus Macdonald September 2009 Mining joint ventures By Angus Macdonald Introduction During the resources boom of 2002 to 2007 exploration joint ventures were a popular structure for junior miners to raise funds to develop

More information

Biomass Pellet Prices Drivers and Outlook What is the worst that can happen?

Biomass Pellet Prices Drivers and Outlook What is the worst that can happen? Biomass Pellet Prices Drivers and Outlook What is the worst that can happen? European Biomass Power Generation 1st October 2012 Cormac O Carroll Director, London Office Pöyry Management Consulting (UK)

More information

Software Tax Characterization Helpdesk Quarterly June 2008

Software Tax Characterization Helpdesk Quarterly June 2008 & McKenzie Software Tax Characterization Helpdesk Quarterly June 2008 Characterizing foreign software revenues is a complex challenge for large and small software firms alike. Variations in the rules around

More information

Competition pipeline gas vs LNG in Europe

Competition pipeline gas vs LNG in Europe 17 th INTERNATIONAL CONFERENCE & EXHIBITION ON 17 th INTERNATIONAL CONFERENCE & EXHIBITION LIQUEFIED NATURAL GAS (LNG 17) ON LIQUEFIED NATURAL GAS (LNG 17) Competition pipeline gas vs LNG in Europe

More information

Korn Ferry Hay Group 2016 Salary Forecast: Wages Expected to Rise Globally, With a Modest Outlook for the Middle East

Korn Ferry Hay Group 2016 Salary Forecast: Wages Expected to Rise Globally, With a Modest Outlook for the Middle East MEDIA CONTACT Megan Willis +971(0)563 694 003 Under embargo until Tuesday 08 December 2015 Korn Ferry Hay Group 2016 : Wages Expected to Rise Globally, With a Modest Outlook for the Middle East Global

More information